What we can do now is to prepare the future for the next generation and make them ready for any obstacles that they probably face in their years.
Then we might want to take a long hard look at proof of work before it destroys our beautiful green earth. |
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Bitcoin doesn't need to kill banks but instead can help the growth. Bitcoin can provide easy transactions and help in the some crucial emergencies of people.
Very true, let take some trip down memory lane, did drone kill the camera man using an helicopter to broadcast news event happening? No. Did Uber kill the local taxi driver driving everyday in the street to get his daily bread? No. Did email kill, sending and recieving of letter through the post office? No. Sure this new innovations did reduce the rate at which people use the formal but they're still operating fine. That's what will happen with bitcoin and banks. Non is replacing the other instead both with operate just fine and it's left for you to decide on which to give the upper hand. This is correct. There will always be demand for private-key custodial institutions. Most people would be better off keeping their coins on Gemini or Coinbase rather than stored locally. This is due to the technical incompetence of the vast majority. |
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They may even be able to reduce the costs to accommodate the price so that it could still be bearable to continue mining.
No worries. I'm confident Blockstream will continue to mine the chain in order to keep their scam alive. |
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Well, I didn't thought of these. But about stable value, we determine it. We just have used to compare bitcoin with dollar. Imagine if there wasn't any euros or dollars. Just bitcoins. I think it would mean stable.
I think an ideal currency will never be a decentralized one. As we all wish that bitcoin is the currency of the world, we will never be able to achieve that since as long as it is decentralized, it will never be one. The value and the control, I think that is the reason why being decentralized is not a feature of an ideal currency, this is just my opinion though. The Federal Reserve is a prime example of a centralized system. If you want to be controlled by a regulating issuing authority, you probably should stick with fiat. |
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This is interesting, but not everyone will support this initiative. Making a payment in bitcoins is a process that takes time, and the more transactions, the greater the load. This is not very convenient for an ordinary buyer who is used to making their transactions instantly.
Welcome to the new and improved Bitcoin. |
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First of all you have to learn how mining works, what miners do etc. After all the BTC mined, bitcoin chain will be working as it is now; only mining rewards won't be there. Miners, instead of mining rewards, will get transaction fee only for confirming transactions.
Do you mean all the transaction fees from layer 2 where the vast majority of all transactions will be taking place? |
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As long as there's a hard core defending the base tenets it has the chance to be what many hope it will become. .
It certainly does have a hard Core; banker-backed Blockstream. Good luck if you think that will result in giving many hope. |
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Bitcoin is traceable, so the only way to increase your anonymity is using a different address for every transaction. If you publish an address to receive payments online, and keep it static, everyone can go to blockexplorer.com, for example, and see all the money you have received.
This is why it's being promoted by the mainstream media and allowed by more world governments. It facilitates the coming of the new world order and a totally cashless society where all financial transactions are traced. The end of liberty, and the death of freedom on this planet. |
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From 2099 till 2140 (when the last satoshis will be mined) there will only be one bitcoin mined. By the end of the century, supply is virtually fixed and limited to the maximum of 21 million. For the following forty years, miners will be mining only one bitcoin...
With most transactions (and most tx fees) being forced onto second layers, it will be interesting to see how this impacts miner incentive and their desire to secure the blockchain. My best guess is that by that time, Bitcoin will have become a minority player in the space due to its inability to evolve. |
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What does the fact that governments cooperate have to do with NSA and their alleged creation of Bitcoin?
My point is that saying that Bitcoin was created by the NSA not only gives too much credit to the NSA but also puts USA on the podium as the country of origin. Even this was never proven!
Also, the agency has no jurisdiction outside the US and as it happens, most of the world is outside of the US and most people do not care what the NSA does.
My point is that the ideal currency must include privacy. This prevents any agency or individual from tracking payments on the ledger. The banking system has now hijacked this project and crippled its core features. I do think it will make an excellent tracking system and settlement layer for its new controllers. But it's certainly not, and never can be the ideal currency. |
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Edit: I have withdrawn the flag and no longer support it; see here for details. You really are an idiot, nutildah. (...and to think @suchmoon gifted you seven merits for withdrawing your flag, or was it to because you created the flag?)
Thank you. I apologize for my error and will work on better researching future statements.
Hi @MicroGuy - How're they hanging? Stayin' Safe during the Covid Lockdown? Flag Opposed.So far so good! Great to hear from you, hope you are well old friend. |
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Incorrect. Big merchants like Fiverr used to accept BTC directly but had to abandon the practice due to the artificially created fee market caused by 1 MB blocks.
This is a known fact.
they did stop accepting bitcoin like some others like steam but it was because of the spam attack that caused the ridiculous fees not the 1 MB block size cap. if anything the block size cap kept bitcoin alive otherwise bitcoin network would have gone down just like shitcoins like ethereum went down under similar but much smaller situation. You are conflating two issues. The 1 MB blocks were designed as a temporary countermeasure many years ago when the network could function properly with 1 MB blocks. |
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Bitcoin being used as the ideal currency.
Unless we can get another hard fork in that will never happen, since the ideal currency must include privacy. |
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all those merchants who are using a payment processor to accept bitcoin are doing it only because of the volatile bitcoin price. they are trying to reduce the risk they are taking while still accept bitcoin as payment. bigger companies such as a hosting service are among them and i don't think you can find any that doesn't go through a payment processor. the only cases that i know people accept bitcoin directly as payment in their own wallet are the smaller merchants using more decentralized and P2P methods such as trades that are taking place every day on this forum in the marketplace boards. additionally we have the decentralized marketplace called OpenBazaar where merchants accept bitcoin themselves. Incorrect. Big merchants like Fiverr used to accept BTC directly but had to abandon the practice due to the artificially created fee market caused by 1 MB blocks. This is a known fact. |
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I have searched "services that accept bitcoin". Yeah, they are many but most of them accept the payment with bitpay. I need a coinbase account for that, and I wouldn't like that. Pure bitcoin payment, nowhere?
Like to generate me a bitcoin address only for me, then I send the bitcoins there and they confirm I sent them. I want to buy web hosting with bitcoin btw.
Blockstream decided to convert Bitcoin into a settlement layer by preserving 1 MB blocks. The cash payment function of the protocol was removed. Wait for LN, I'm sure that will fix everything. |
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Indeed, there is no significant change in the price, but something else may happen.
Generally, I think events like halvings get priced into the market well before the actual event. |
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Also, it's kinda rude to call some a campaign spammers, just because they're not on the side of CW. We have different opinions and this is a forum so I guess we should respect each other. I do believe that we still need to undergo due process.
Sorry. It's just annoying to start reading a post and then get 2 sentences in to realize it's just random text to get a banner view. And I'm no Craig Wright fan. |
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Hello! What's your opinion could BTC kill banking system? Bitcoin has an advantage over fiatbecause its amount is limited and it can't fall under inflation.Inflation usually is caused by monetary policies of our central banks. Bitcoin is free from inflation, governement control and high transaction fees.Banks can’t control BTC because it has no representative and is fully decentralized. That's why banks are afraid of BTC.
.If u like donate to my address : 19fCVjYVuppjhSvZc4fYimLSjTv63SyoYD
The coinbase's of the world will become the new banks offering key custodial services. Banks won't go away, they will adapt. |
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I have noticed that even Electrum suggests me to use different bitcoin address on every transaction I make. Why that since you can't do something if you don't have my private key?
Because if you use a new address each time, it makes tracking your transactions more difficult. |
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In light of these facts, I have unfriended Satoshi Nakamoto on the P2P Foundation website and stand corrected.
And what about the issues raised here? I'll be willing to edit my trust rating regarding your withdrawn claims about satoshi, but I'll need to see some very convincing evidence that your altcoin is not a scam before I can consider removing the negative trust. This blog post was addressed in 2013 by our then lead developer in the following thread: https://bitcointalk.org/index.php?topic=231834.msg3289325#msg3289325The blog author was a serial coin creator who made coins in direct competition with Goldcoin. Having considered it carefully for the last few hours, I'm going to replace the negative feedback with a neutral one. I'm still deeply suspicious and don't find your recent behaviour in any way trustworthy, but with regard to the author of that blog post, it does appear to be a case of your word versus theirs. Thanks. I've never made any knowingly false claims on this forum and I've never scammed anyone in this industry. Nice to see flags and feedback being updated after due diligence is done. A good bulk of my work in cryptocurrency has been educating and helping others. One example was our Cryptsy Community Relief Project where we returned billions of coins to communities who lost funds after the exchange hack. https://www.goldcointalk.org/index.php?topic=3789.0And of course, my opinions are just that. But I see no reason to begin each sentence with "In my opinion." That should be assumed by the reader. |
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